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81% of Exhibiting Companies reduced trade show spend
The companies reduced trade show spend by:
- 56% reduced staffing
- 39% reduced the amount of shows
- 79% collect leads
- 75% creating brand awareness or growing market share
- 33% use trade shows to launch new products
- 74% quality of leads collected
- 59% booth traffic
- 54% quality of leads collected
- 52% sales from leads collected
The survey then stated 57% that value promotion of their event-related activities on social media such as Facebook (34%), Twitter (28%), and LinkedIn (19%). In addition, 45% value year-round online communities populated by event attendee. In addition, 62% of respondents report that trade show expenditures represent more than a quarter of their marketing budget, including 28% of exhibitors who indicate trade shows represent more than half their marketing budget. While a majority of trade show related budgets will remain the same in 2010 and 2011, a quarter of the companies predict increased spending on future trade shows compared to 2009.
After reading these statistics and comments, I can clearly understand why companies leave trade shows disappointed, frustrated and wondering what they can do to increase their tradeshow marketing investment. A good majority of trade show companies just want to sell you equipment and NOT integrated solutions and will never have the ability to move on past this point. If your trade show budget is 25-50% of your annual marketing budget, you better make sure that you have winning solutions for your trade show investment. And if you have NO social media strategy in place today, get one NOW!
Part II will focus on down and dirty Trade Show marketing solutions that you should Crave!